Pixel8r

Hanging in there. Going through a lengthy court battle currently for proper access to my son after leaving my cheating partner. But work and finance is all good. Have branched out into doing websites as well to fill the gaps.

Somethings going on. Big Chunk Of JP Morgan’s Gold Holdings Withdrawn In One Day

GATA have well documented the longterm manipulation in gold that went on through the 80's & 90's, culminating in Brown's bottom. There was a central bank gold price suppression scheme in operation for 2 decades, the useless asset gold was leased to bullion banks for a lease rate. This accomplished two things, it got them some return on their useless none yielding asset and it also meant that gold was sold into the market which kept the gold price down and made their fiat currencies look better. This extra supply made up the shortfall in mined supply for 2 decades. Things have started to unravel over the last decade and central banks are now net buyers. Do you deny that this actually happened or that it isn't manipulative? Re your second point in not believing in the hyperinflation case anymore. They have no choice but to hyper inflate the currency, it is not about reducing the debt it is about continuing the game. If they stop monetising the debt the game stops. Central banks are currently monetising more debt than is issued. HyperInflation does not necessarily mean rising prices immediately, hyperinflation is the exponential rise in the quantity of money. The rising prices will follow at some point, but the currency is already being hyper inflated.

Actually looking more closely at the charts it did drop through the longterm support, but then closed above it.

This market is obviously heavily manipulated we have had tons of metal being dumped on to the market in the early hours, some have been speculating it can only be by the BIS. Technical analysis kind of becomes pointless as the chart can be painted to create whatever pattern they wish and trick technical analysts into believing whatever they want. The recent drop felt like a capitulation point to me with lots of weak holders selling into it, but who knows what they have planned next. I wouldn't be surprised to see them drop the price down out of the channel in your chart above, just to try and knock a few more out of the their holdings. I think what it will all end up coming down to is physical availability, as physical metal becomes harder to source the price will turn. The GOFO rate went the most negative this week since 2001, which is showing the pressure on the market. As usual I think it is best just to accumulate physical metal and not attempt to trade the PM market using paper derivatives. Kind of feeling like I may swap some more gold to silver though lately.

The capitulation low came in June 2013 with the drop to $1178, we have been on base building since then. Through my years of watching Gold it always seems to move in a way where it leaves the bulls behind. I doubt we will see another capitulation low for that reason. Now comes the time when everyone has to take notice of gold again.

warpig talked about an interesting indicator to monitor for confirmation of the change in gold direction on 24knews today, the CCI index. Looking like it is about to confirm it breakout with a test at around 504

To tell you the truth I am unsure as to what to expect, I have been thinking we have seen the bottom of this correction with the 2 $1180's at end of June and December last year and we would be setting off on the next wave around now. I have recently sold a property in preparation to put some more capital into PM's, have started feeding some in but am now starting to think that we could see final drop if we see another 2008 style liquidity crisis. If we do see a repeat it could be that you are still better buying physical ahead because the banks could lockup and capital be hard to move. Think I will probably end up deploying some ahead and hold some spare powder to see what the next few months bring.

Thanks for the video it agrees with what I have been thinking of late. I think the gold bull is about to restart and have been positioning myself to take advantage of it. There is a possibility of a major crash in the stock market and a resumption of the 2008 crisis, where everything gets sold off in a rush for liquidity. If that happens we could see gold drop for a final low. It seems that is what Martin Armstrong has been talking about in his latest blog post, expecting the final low to appear not before Jan/Feb 2015 - http://armstrongeconomics.com/2014/08/01/july-recap-of-few-markets/

The suppression scheme may appear to have worked but in effect the central banks now just have IOU's from bankrupt banks rather than physical sat in their vaults. Doesn't seem that great a plan to me, especially as most of that metal ended going East at discount rates. The "sale" of GLD by Paulson was actually only picked up from his 13F report. This report shows the holdings of certain securities but doesn't need to show things like physical metal holdings. I expect that rather than selling Gold at the low of the correction it will come out eventually that he actually took delivery of gold from the GLD, which can be done in batches of 100,000 shares, which would show as a sale in the 13F report.

Is it time to sell stocks and buy gold? By: Dominic Frisby The other major difference between the 70's and now is the fact that there has been a gold suppression scheme in operation since the 80's and the western banks have leased a load of their gold. Why is it that those reporting in the media don't acknowledge the proof that GATA have accumulated, or take it into account? Come on Dominic

Your starting to sound like a GATA nut.

I think the volatility in the metals is only going to increase massively as we go further into this. Most traders will get burnt unless they are extremely disciplined and I think it isn't something that people should attempt. Maybe you all win, maybe you will win big, but also maybe you will then lose it all and get really angry about it. I prefer to concentrate on real things and not try to beat the banking bar stewards at their own rigged game. Good luck you will need it.

The thing is they aren't INSIGNIFICANT if you are a paper trader on leverage, they actually probably nearly wipe you out.